Donald Trump on taxes

[Valerie]

Trump’s Tax Cuts Would Add $24.5 Trillion to the Debt


Related: Trump Vows Lower Tax Rates, Revised Trade Agreements, Deep Spending Cuts

But tax and budget analysts and government watchdogs are highly skeptical that Trump and other candidates could come close to offsetting the impact of their tax cut schemes.

“If you wanted to cut spending to offset these tax cuts you’d have to eliminate all of national defense and still a bunch of discretionary spending or spending on Medicare and Social Security to do it,” Tax Policy Center Director Leonard Burman told reporters on a Tuesday call, according to the Washington Post.

Trump said in April that he opposed cutting Social Security and other entitlement programs. Moreover, the Tax Policy Center included Trump’s promised elimination of tax deductions and some loopholes into its calculations, though its calculations involved some assumptions to be able to model out details not fully specified in Trump’s proposal.

The Tax Policy Center study concludes that without substantial offsetting cuts or savings, Trump’s tax cuts would increase the national debt by nearly 80 percent of the Gross Domestic Product by 2036. At the same time, the huge drain on the treasury would undermine some or all of the economic incentives being sought.

Related: 9 Insights on Debt, Taxes and the Economy from a Former CBO Director

 

[NightFox]

Donald Trump Sitting On Taxes




there, fixed it for you


release em' DON.

I really don't get why you DemoBots are so obsessed with Trump's Tax Returns, hasn't the Donald given you guys enough material for your slime, demonize and slander machine already?

... There was a time, not too long ago, when Democrats were actually pretty competent when it came to character assassination in fact they were almost as good at it as Republicans, but then along came "the Donald" and they've just gone into full broken-record, parrot mode, it's sad and really fucks up the whole bread & circuses motif that American Politics had going for it.

Trump went full broken record with his sales tripe, and opened the door ...

OIC, Trump and his sycophants behave like idiots so of course Clinton and her sycophants MUST follow suit, thanks for clearing that up.

... *Pfffftt* and some people say that partisan politics lacks both common sense and reason.

"People are fascinated by robots because they're machines that can mimic life." -- Colin Angle

 

[NightFox]

Well, again the problem with Trump isn't that the dems are good or that the gop elite didn't treat voters like teenage whores in Victorian England .... they did. The problem with Trump is he's a false prophet and a con man.
.

Yeah so is Hillary Clinton, so I guess we're in a heated contest to find out which one of them is the bigger "false prophet and con man", may the biggest douche bag win.

"Aim High" -- U.S. Air Force Recruiting Slogan

 

[sealybobo]

If only the left and it's media would hold the Clinton's to the same standard they apply to Trump.

You mean like if Obama gave a tax break that mostly benefitted the rich and then caused a trade war that raised prices that ate up any of the tax breaks that he gave the middle class?

Or how much are we going to have to pay for gas now that Trump has started a war with Iran?

Now Trump is going to give iran billions of dollars to stop doing what they are doing. Isn't that what Obama did? So how is Trump different, other than he causes problems on a daily basis?

Republicans are such hypocrites.

After one year, some prices in NPR's basket of goods have climbed significantly, at least in part because of the tariffs. The price of a dog leash has climbed 35%. A screwdriver costs 7% more.

But prices are complicated. They don't automatically rise with tariffs.



In fact, shoppers are only starting to feel tariffs. Last year, the Trump administration specifically targeted industrial materials and parts, rather than consumer products, to avoid shocking Americans with price hikes. The new rounds kicking in this month and in December will more directly affect a lot more of the things people buy every day, such as shoes, clothes and electronics.

 

[gipper]

If only the left and it's media would hold the Clinton's to the same standard they apply to Trump.

You mean like if Obama gave a tax break that mostly benefitted the rich and then caused a trade war that raised prices that ate up any of the tax breaks that he gave the middle class?

Or how much are we going to have to pay for gas now that Trump has started a war with Iran?

Now Trump is going to give iran billions of dollars to stop doing what they are doing. Isn't that what Obama did? So how is Trump different, other than he causes problems on a daily basis?

Republicans are such hypocrites.

After one year, some prices in NPR's basket of goods have climbed significantly, at least in part because of the tariffs. The price of a dog leash has climbed 35%. A screwdriver costs 7% more.

But prices are complicated. They don't automatically rise with tariffs.



In fact, shoppers are only starting to feel tariffs. Last year, the Trump administration specifically targeted industrial materials and parts, rather than consumer products, to avoid shocking Americans with price hikes. The new rounds kicking in this month and in December will more directly affect a lot more of the things people buy every day, such as shoes, clothes and electronics.

Okay but Ears did give a tax cut to the rich. He made W’s tax cuts permanent.

 

[Thinker101]

drrummmmpf

Billionaire Trump backer paid no state income tax for 3 years, records show

I don't get it, is Trump now responsible for everyone that supports him?

Also, you seem to have missed:
There are several reasons a wealthy individual could have no tax liability, including investment losses, various deductions or credits or tax losses that carry forward — that is, the ability to use losses from a previous year against income earned in a later year, Joyce and Baldridge said.